Plan in motion to create Arab Common Market by 2020

An Arab League body has begun discussions on the creation of a functional pan-Arab customs union by 2015 and an Arab common market by 2020. (Shutterstock)

An Arab League body has begun discussions on the creation of a functional pan-Arab customs union by 2015 and an Arab common market by 2020, the UAE state news agency reported on Monday.

The Committee on Arab Customs Union, which was created by the Arab League at its 2009 Arab Economic and Social Development Summit, is outlining an action plan for the initiative.

The union seeks to issue a enact a pan-Arab customs tariff on trade with non-Arab countries, Tamer Abdulaziz, Director of Regional Agreements at Egypt's Ministry of Industry and Trade, who chaired the committee's meeting was quoted as saying.

The committee aims to achieve a fully-functional Arab customs union by 2015 and an Arab common market by 2020 and increasing inter-Arab trade and integration.
 

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Last Update: Wednesday, 20 May 2020 KSA 09:42 - GMT 06:42
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